Impact of Recently Issued Accounting Pronouncements

9 Months Ended

Oct. 29, 2011

Impact of Recently Issued Accounting Pronouncements

NOTE 8.  Impact of Recently Issued Accounting Pronouncements

In January 2010, the Financial Accounting Standards Board, or FASB, issued guidance titled “Improving Disclosures About Fair Value Measurements” that amends existing disclosure requirements by adding required disclosures about items transferring into and out of levels 1 and 2 in the fair value hierarchy; adding separate disclosures about purchase, sales, issuances, and settlements relative to level 3 measurements; and clarifying, among other things, the existing fair value disclosures about the level of disaggregation.  Except for the separate level 3 disclosures, this guidance was effective for financial statements issued for interim or fiscal years beginning after December 15, 2009, and our adoption of it on January 31, 2010 did not have a material impact on our financial condition or results of operations.  The rest of the guidance became effective for financial statements issued for interim or fiscal years beginning after December 15, 2010 and our adoption of it on January 30, 2011 did not have a material impact on our financial condition or results of operations.